Seoul: SPC Group, a South Korean food and beverage company, has announced the commencement of construction for its third overseas bakery plant in the United States, specifically in Texas, as part of its global expansion efforts. The construction project is a significant part of the company's strategy to broaden its international footprint.
According to Yonhap News Agency, SPC plans to complete the new Paris Baguette plant by 2029, with an investment of 290 billion won (approximately US$208 million). The decision to invest in the U.S. was influenced by a meeting between SPC Chairman Hur Young-in and then U.S. President Donald Trump in 2019, where Trump encouraged South Korean business leaders to invest in the United States.
SPC stated that the new U.S. bakery plant will be crucial in establishing the brand as a prominent global bakery and facilitating its expansion into international markets. Currently, the group has entered 14 countries and operates 670 overseas outlets under the Paris Baguette brand, in addition to 3,400 domestic stores.
The company currently runs bakery plants in Tianjin, China, and Johor Bahru, Malaysia. With the expansion of production facilities, SPC aims to operate 12,000 Paris Baguette outlets worldwide by 2030, marking a significant step in its global growth ambitions.